Super Abrasives Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2027

Global Super Abrasives Market is estimated to witness a rise in revenue from US$ 6,694.5 Mn in 2021 to US$ 9,767.4 Mn by 2027. The market is registering growth at a CAGR of 6.5% over the forecast period 2022-2027. Super Abrasives are used for the most precision grinding. They are known for their extraordinary hardness, wheel life, and exceptional performance. Super Abrasive wheels use diamond and CBN technology to cut demanding materials such as carbide, high-speed steel, ceramics, and glass. Hardness, abrasion resistance, compressive strength, thermal conductivity are all features designed to achieve a high level of precision and quality, making them a preferable choice for a wide range of applications. Super abrasives are becoming more widely used in a variety of industries, including automotive, medical (dental equipment), aerospace, cutting, non-ferrous metals, stone, ceramic materials, and oil and gas exploration.

The growing impetus of the global super abrasives market is attributed to better substitutability of super abrasives over conventional abrasives, growing production of automobiles, and rising construction activities. However, high-performance applications and high initial costs along with rising environmental concerns are hindering market growth. 

Report Summary

The study of the global super abrasives market considers various market determinants, industry value chain analysis, and competitor analysis of the market. The report discusses the analysis of the super abrasives industry for the period 2017-2027, where the base year is 2021 and the forecast period is 2022-2027. The report provides a detailed analysis of the global super abrasives market across 14 chapters and, 168 pages. The report includes data presentation across 54 tables and 38 statistical figures. 

The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein bargaining power of buyers and intensity rivalry is high. 

The subsequent section provides details of the market analysis based on different segments such as product, application, industry, and region. The report includes a detailed study of the value chain of the industry. It includes raw material providers, manufacturers, distributors, and end-users. The report also covers extensively the key competitors in the market for super abrasives. 

Key Takeaways from the Global Super Abrasives Market Report

• In terms of product, the diamond segment is estimated to have the highest share in the Global Super Abrasives Market in 2021 owing to increasing demand for cutting and grinding tools as diamonds have chemical inertness, anti-adhesion, a low coefficient of friction, and better wear resistance. Vitrified diamond holds the highest share in the diamond segment in 2021.
• Based on the application, the powertrain has the highest share in the super abrasives market. However, the tool grinding segment is estimated to project the highest CAGR during the forecast period. This is attributed to the increasing demand for diamond discs for grinding and polishing powertrains in the automotive industry.
• The electrical and electronics industry dominates the global super abrasives market in 2021 due to increasing demand for precision grinding technology to manufacture smaller, more complicated bits with precise tolerances that fit properly in machine components.
• The Asia Pacific dominates the global super abrasives market and is further expected to continue its dominance over the forecast period. This is due to the rise in demand for machinery and tools and the rise in government initiatives to promote construction activities in the APAC region. Furthermore, the presence of leading vendors in the region is also enhancing the market growth.

Impact of COVID-19

The COVID-19 pandemic and the associated lockdown have had an impact on mining activities, which affected the availability of raw materials, and as a result, have deteriorated the market growth. Stringent government regulations for raw material extraction and the closure of manufacturing units have further hindered the market growth. Furthermore, the automobile industry employs a wide range of abrasives at various stages of the manufacturing process and due to the pandemic, these industries' manufacturing units have been shut down, which has had a significant impact on the super abrasive market.

Competitive Insight

• 3M operates as a diversified technology company, manufacturing more than 55,000 products, including adhesives, abrasives, laminates, passive fire protection, dental and orthodontic products, electronic materials, medical products, car-care products, electronic circuits, and optical films.
• Action SuperAbrasive is a privately held company that’s been in business since 1985.  The company manufactures SuperAbrasive grinding wheels in various shapes and sizes for use in the medical, ceramic, automotive, thermal spray, fine lapping, and specialty materials industries.
• Finzler, Schrock & Kimmel GmbH (FIS) produces diamond and CBN grinding tools with galvanic bonding. These grinding tools are used as grinding wheels, mounted points, and cutting wheels in the industry as well as in dental medicine and technology.
• Hyperion Materials & Technologies deals in advanced materials with decades of experience in developing and manufacturing tungsten carbide powder, cemented carbide, industrial diamond, and cubic boron nitride.
• Asahi Diamond Industrial was founded in 1937 in Tokyo. The company provides support for the engineering, construction, and mining sectors with high-quality diamond products that are reliable and cost-effective.

Segmentation Overview

The following are the different segments of the Global Super Abrasives Market

By Product segment of the Global Super Abrasives Market are sub-segmented into:

• Cubic boron nitride (CBN)
  • Vitrified CBN
  • Electroplated CBN
  • Resin Bond CBN
  • Metal CBN
• Diamond
  • Vitrified Diamond
  • Electroplated Diamond
  • Resin Bond Diamond
  • Metal Diamond

By Application segment of the Global Super Abrasives Market are sub-segmented into:

• Powertrain
• Bearing
• Gear
• Tool Grinding
• Turbine
• Other Applications

By Industry segment of the Global Super Abrasives Market are sub-segmented into:

• Construction
• Energy (O&G, Mining)
• Automotive
• Electricals & Electronics
• Medical Devices
• Aerospace
• Metal Fabrication
• Others

By Region segment of the Global Super Abrasives Market are sub-segmented into:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • The UK
  • Germany
  • France
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia & New Zealand
  • Korea
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
• South America
  • Argentina
  • Brazil
  • Rest of South America